Reality checks to face recruiting and rejection

It's funny because I made a similar post last year, and I'd gotten some really insightful replies that I routinely go back and re-read, so I thought I'd make a similar thread again this year. 

I'm a final year undergrad student (international) at a target uni, and I didn't convert my summer internship at a bank, due to headcount constraints. Accepting that was tough, but taking some time and space to reflect on my experience has helped, and I've been back in the recruiting game ever since (banking summers and grad schemes in the UK). 

I was lucky enough to get a reasonable number of interviews this year, but unfortunately a lot of them went nowhere, and it's been disheartening, because a lot of places seem to be done with a majority of their recruiting for this cycle. My stress is compounded by the fact that as a final year student, I'm also faced with a lot of uncertainty and planning that I'm unsure of how to go about. Do I do a masters degree (and how will I afford that?)? Do I apply for off-cycles? Do I stand a chance for next year's grad recruiting? What's the play here? 

But what really makes the whole thing a hundred times harder is that most people around me seem to be in a similar position, which would help, if not for the fact that everyone's so dejected and pessimistic and hopeless all the time. Most of my conversations with people seem to be about this, and fun plans get cancelled because of recruiting, and people are talking about having to go back to their home country despite not wanting to because they're unable to land anything here. It's just been a bit claustrophobic and sad, because we're all as prepped as can be and trying as hard as we can, but it's difficult to maintain morale in this competitive climate, especially considering that there's an overwhelming sense of regret at having "missed the one opportunity" that we all had (be it a make-or-break interview, a summer internship, etc). Distancing myself and not letting other people's headspace affect mine has helped to an extent, but it's much easier said than done when I'm also in the midst of it all.

I think I've come to the conclusion that I simply haven't seen enough of the recruiting cycle to have a healthier perspective on this, which is why I was hoping that some of you more seasoned monkeys could give me a larger picture and any insights/advice to keep going. I am not going to stop trying, and I am confident that I will be applying next year, no matter what. Every rejection I've had has taught me something or the other, and I made a lot of fatal mistakes this year that I will not be repeating going forward. Still, I just want to hear from people who were in the midst of this and who made it out to the other side, because sometimes it feels endless and futile. Going into this, I was sure something would work out, but now I'm less sure, despite doing my best and having as good a profile as I could have at this time. 

I'm looking for advice and perspective from people who've been in the industry, and who've faced failure and rejection in it. I know it's a necessary skill to learn and deal with them healthily, and I'm getting there, but it would help to hear stories that don't make me terrified at the prospect of facing the unknown that lies upon graduating. Thank you so much :)))